Daelim Industrial wins deal to build water power plant in Indonesia

A consortium led by Daelim Industrial Co., South Korea’s fourth-largest builder, has won a deal valued at 269.3 billion won ($231.9 million) to build a hydroelectric power plant in Indonesia, the company said Sunday.

Daelim Industrial joined hands with Italian construction firm Astaldi SpA. and Indonesian state-run Wika to clinch the Upper Cisokan Pumped Storage Power Project in West Java, funded by the World Bank. The South Korean firm holds a 1,077 billion-won stake in the project, according to Daelim Industrial.